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National Income As An Indicator Of Standard Of Living

... shows what people are spending their money on, and the output shows what is being produced for a nation to buy. In theory the totals of each of these should be equal as a country should produce enough for itself to buy with itÕs given income (we must also consider imports and exports). From this perspective National Income statistics should therefore give at least an idea of the standard of living in a country. This is why this statistic is widely used in the USA and Japan. However, there are some criticisms of National Income statistics ...

Number of words: 955 | Number of pages: 4

The Brokerage Industry And The Internet

... push some hot stock and charged you a large sum to purchase the shares you wanted. The 70’s gave way to a new era of discount brokers. The discount brokers provided the means to make trades at a significantly lower cost but at the expense of less informative and directed services. These discount firms utilized new computer technologies to process trades and opened up investment opportunities for many that would not have previously considered purchasing securities. With improved IT capabilities and the introduction of the Internet the dis ...

Number of words: 753 | Number of pages: 3

What I Understand From Term "Development"

... incomes of less than one fifth of the level of those in the US are considered 'undeveloped'. The definition is very similar to explanation of wealth and poverty. It also suggests the balance of power between the two countries which are at different stages of development. This definition of development is not totally agreeable because it is quitecommon for a country's national income to grow quite substantially without benefiting the poor sections of the country as much as the rich. In fact further development could elevate poverty. ...

Number of words: 264 | Number of pages: 1

Will The Global Economy Help Or Hurt The Next Generation Of Americans?

... new work that will be required in the next generation. American schools are using teaching techniques that taught existed in the 1950's. Textbooks date back to the early 1970's. Requirements may have changed but our reaching techniques have not. Every year, students take the same courses with the same prerequisite: A good memory. True, they are teaching classes that are essential to get into a good college but are they teaching the skills that our future generation will need? Are students going to be able to problem solve? Are today's student ...

Number of words: 1814 | Number of pages: 7

Milton Friedman

... to understand that good objectives can be perverted by bad means, that reliance on the freedom of people to control their own lives in accordance with their own values is the surest way to achieve the full potential of a great society." -- Free To Choose. In this article, Friedman exerts that increasing its profits is the only social responsibility of a business. I totally disagree with Friedman because, simply put, he is wrong. The following are some of the arguments he has put forth: 1. Interacting with the community will help the firm in t ...

Number of words: 1162 | Number of pages: 5

India's Economic Success

... Although, in the past, the India government has taken steps to correct this matter with promoting Hindi as the national language. However, Indians who cannot speak Hindi frowned upon this notion. They believed the best jobs would go to Indians who spoke Hindi and with their pride of their regional languages kept them from accepting this unity, thus government decided against this idea. Now, the India government recognizes 13 regional languages as official languages. Children in schools learn Hindi as their second language, with Englis ...

Number of words: 1085 | Number of pages: 4

Definition/Exemplification: Success

... is involved in achieving something, and therefore, is not as easy to gain as it sounds. When we talk about success, we refer to specific events, qualities, and inheritances, but do not take into consideration the things that made these items of success obtainable. Success is a personal trait. It is a great thing to experience, but it will not mean anything to a person if he or she did not work for it. For example, why do people feel relieved right after a final exam is taken? It is not only because the semester is over and that the clas ...

Number of words: 1156 | Number of pages: 5

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